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VISUALIZADOR DE COOPERATIVAS DE ahorro y crédito de PUERTO RICO

¿Qué es el visualizador de Cooperativas de Ahorro y Crédito?

Una herramienta de gestión que permite evaluar las condiciones prevalecientes en el mercado desde la perspectiva del desempeño de indicadores económicos claves que inciden en la industria de las cooperativas, así como su desempeño financiero y la huella geográfica con indicadores socioeconómicos del mercado que atienden las cooperativas que componen el sistema.

 

En este dashboard se presentan una serie de indicadores importantes para la industria de Ahorro y Crédito de Puerto Rico. Específicamente, se han procesado todos los informes trimestrales de COSSEC, con sus indicadores financieros. 

ECONOMIC INDICATOR DASHBOARD

Actualizado: julio de 2022

 

La economía continúa experimentando crecimiento, aunque a un ritmo más lento. El índice de Actividad Económica del Banco de Desarrollo Económico que se había contraído en 10.5% anual en junio del 2020 logró recuperarse en meses subsiguientes, situándose en 10.3% en abril del 2021. Sin embargo, el ritmo de crecimiento desde entonces ha ido decreciendo, reflejando una tasa anual de 3.5% en abril de 2022.

 

 Las condiciones en el mercado laboral siguen mostrando fortaleza. Se crearon 51,500 empleos en el sector no agrícola con 915,800 empleos (superior a los niveles pre-pandemia) en mayo 2022, mientras que la tasa de desempleo bajo a 6.2% (nivel histórico más bajo).

 

 La tasa de inflación alcanzó 6.1% en abril, destacando los siguientes incrementos anuales: 11.2 % en el renglón de carnes, aves, pescados y huevos; 37.1% para combustible para motores; y 18% para alojamiento fuera del hogar.

 

 El crecimiento en las ventas comienza a ralentizarse. El ritmo de crecimiento en las ventas al detal pasó de 8.7% en los meses de enero-febrero de 2021 a 3.2% en el mismo periodo en el 2022.

 

 Por su parte, la actividad en el sector del turismo muestra buen desempeño con el registro en hoteles y paradores aumentando 21.4% durante el primer trimestre del 2022 vs -1.8% en el mismo periodo en el 2021. La tasa de ocupación hotelera aumentó de 50.8% a 63.1% durante el periodo.

FINANCIAL STABILITY INDEX FOR BANKS IN PUERTO RICO:

THIRD Quarter 2021

Leslie Adames, Director of Economic Analysis and Policy

The index measures the financial health of the industry in reference to four criteria: liquidity (i.e., total loans / deposits or LtD), solvency (i.e., capital to total assets or E / A), asset quality (i.e., nonperforming loans or NPL / Total Loans) and profitability (i.e., return on assets or ROA). The index fluctuates between [0,1], with values approaching zero (0) indicating financial fragility and values close to one (1) strength.


According to the latest figure, the index continued improving as of the third quarter of 2021. The index increased from 0.47 in the third quarter of 2020 to 0.60 in the third quarter of 2021. Quarter-over-quarter, the index rose 30 basis points from 0.57 in the second quarter of 2021.

 

The strengthening in the industry liquidity influenced the positive performance of the index in the third quarter of 2021. The loan-to-deposit ratio improved from 46.0% in the second quarter of 2021 to 45.0% in the third quarter of 2021. Total deposits rose 1.5% or by $1,293 million quarter-over-quarter to $85,855 million during this period, while loans and leases dropped 3.9% or by $291 million. In terms of the industry’s loan portfolio, it is essential to underscore that in terms of main variations, the real estate and commercial segment declined $514 million to $25,700 million in the third quarter, partially offset by an increase of $223 million to $9,817 million in the individual loan portfolio.

 

The industry’s profitability remained stable, with a ROA of 1.38% in the third quarter of 2021. Net income increased $318 million quarter-over-quarter to $923 million in the third quarter. Three factors contributed to this performance. One of the contributors was the release of $53.9 million in provisions for loans and lease losses (i.e., $164.1 million in cumulative provisions for the first nine months of the year). On the other hand, the industry exhibited a sequential increase of $605.6 million to $1,825 million in revenues from interest and fees on loans and $107.7 million to $314 million on investment interest income between the second and third quarter of 2021. Finally, non-interest income increased by $195.6 million to $556.7 million in the third quarter of 2021, influenced by key items such as deposit service charges, fiduciary activities, net servicing fees.

 

Meanwhile, the industry credit risk profile remained stable with the nonperforming loans to total loans and leases ratio (i.e., NPL) trending lower to previous quarters. The NPL ratio declined from 6.57% in the 3Q20 to 4.83% in the second quarter of 2021 and 4.32% in the 3Q21. FDIC data on nonperforming loans and delinquencies for individual loan portfolio segments do not show a material deterioration in asset quality yet.

 

Finally, although the equity capital to total assets declined year-over-year from 9.05% in the third quarter of 2020 to 7.77% in the third quarter of 2021, it remained stable compared to 7.70% in the previous quarter. As for the regulatory risk-based capital ratios, the industry’s average common equity to tier 1 ratio rose sequentially from 15.65% in the second quarter of 2021 to 16.22% in the third quarter of 2021, remaining well above the 6.5% minimum regulatory requirement to be considered well-capitalized.

 

Financial Stability Index for the Credit Union Industry
in Puerto Rico: FIRST QUARTER 2021
 Leslie Adames, Director of Economic Analysis and Policy 

The index measures the financial health of the industry in reference to four criteria: liquidity (i.e., total loans / deposits or LtD), solvency (i.e., capital to total assets or E / A), asset quality (i.e., nonperforming loans or NPL / Total Loans) and profitability (i.e., return on assets or ROA). The index fluctuates between [0,1], with values ​​approaching zero (0) indicating financial fragility and values ​​close to one (1) strength.

 

The index declined slightly from 0.66 in the fourth quarter of 2020 to 0.64 in the first quarter of 2021. The index’s quarterly (i.e., QoQ) performance was driven by a reduction in the profitability and the solvency subindexes. The industry’s profitability remains under pressure as persistent low interest rate continues affecting the yield on loans and net interest margin (NIM). The industry’s NIM dropped from 3.78% in the fourth quarter of 2020 to 3.74% in the first quarter of 2021 reflecting a reduction in loans yields from 7.33% to 7.28% despite a lower cost of funds which declined from 0.57% to 0.49% during the period. On the expense side, the industry’s provisions relative to its total loan portfolio which declined from 2.53% in the second quarter of 2020 to 2.42% in the fourth quarter of 2020, increased slightly to 2.47% in the first quarter of 2021.

 

The moderate reduction in the equity-to-total assets ratio was influenced by various factors. The industry’s total capital (i.e., excluding credit unions’ member stocks) declined from $532 million in the fourth quarter of 2020 to $524 million in the first quarter of 2021 influenced by a quarterly deduction of $21 million related to the reserve valuation of investment, partially offset by increases of $7 million in additional reserves and of $2 million in capital obligations. Meanwhile, the quarterly increase in the industry’s total assets was driven by incremental variations of $40.1 million in cash, $76 million in loan balances, $86 million in saving and CD’s accounts held with other institutions, and $133 million in investments and negotiable securities.

 

The number of credit union membership increased by 9,529 to 1.085 million members in the first quarter of 2021 when compared to the previous quarter.